Charter Communications CHTR recently announced Spectrum news outpaced ABC, CBS, FOX, NVC, CNN, Fox News and MSNBC in terms of daily viewership in September. Spectrum News averaged 2.2 million daily views across its local linear and digital platforms.
Spectrum’s recent performance against its peers can be attributed to the fact that it recently extended its offerings to streaming apps like Roku and Apple’s AAPL Apple TV, which attracted varied customers to its news channels.
Additionally, Spectrum recently collaborated with Comcast CMCSA to launch its Spectrum TV app on XClass TV. Its collaboration with XClass TV will make its tv app available automatically across all XClass TV and can be activated with voice remote and voice recognition.
CHTR’s launch of the Spectrum TV app on XClass TV is in line with its strategy to collaborate with Comcast to develop and offer a new streaming platform on various branded 4K streaming devices and smart TVs. The joint venture will help it to attract new customers for not only its news channels but also for its other offerings. This will aid in Charter’s top-line growth.
Charter Builds Strong Partnership to Combat Competition
Growth slowed down due to lower new activation of Internet users. CHTR had 30.253 million Internet customers in the second quarter of 2022, up 2.1% year over year. It lost 21K Internet customers in the last reported quarter.
Also, the company lost 226,000 video customers in the second quarter, with the market being mostly saturated. The space is dominated by big streaming service providers like Netflix NFLX and Amazon Prime Video, which are heightening the competition for Charter.
Netflix has been spending aggressively on building its original content portfolio, and the company is still enjoying its leading position in the streaming industry. It is the most prominent competitor of CHTR in the video-streaming space.
However, the availability of Apple TV along with other streaming platforms on its TV app will help Charter ward off competition from Netflix and Amazon. As of Jun 30, 2022, CHTR had 32.124 million total customer relationships, up 1.1% year over year.
Also, Charter recently announced the launch of Spectrum Internet, Mobile, TV and Voice services to more than 540 homes and small businesses in the Northwoods regions of Arbor Vitae, Woodruff, Three Lakes and the Town of Piehl, WI.
Spectrum’s recent unveiling of advanced communications services in Marathon County, WI, is in line with its strategy of investing to extend gigabit broadband networks to unserved communities across the United States and win customers as the first mover in these areas. This is expected further aid CHTR in beating the competition and attracting new clients to its various offerings.
Charter’s strategy to invest $5 billion in constructing a fiber-optic network buildout will help provide broadband access to approximately 1 million customer locations across 24 states in the coming years. This, in turn, is expected to expand CHTR’s customer base extensively and aid in its top-line growth.
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